Important legal requirements of setting up a Private Limited Company in Hong Kong

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Important legal requirements of setting up a Private Limited Company in Hong Kong

The company must have at least one shareholder who could be a corporate entity or an individual. The shareholder/s is/are not required to reside in Hong Kong. There is no minimum requirement for the authorised or paid-up capital, and the liability of the shareholder/s is/are limited to the paid-up capital. The number of shareholders is limited to 50, excluding employees and former employees. A private limited company cannot offer any shares to the public. The right of transfer of share/s is limited and requires the approval of the director/s.

The company must nominate at least one director, who may be either a corporate entity or an individual. The director does not have to be a resident of Hong Kong.

A statutory requirement is for a Company Secretary to be appointed, responsible to the Registrar of Companies for administering the company‚Äôs statutory records.